Clothing: Celio plans to close a hundred stores and cut more...

Placed in the safeguard procedure at the end of June, the men’s ready-to-wear brand Celio plans to “close 102 stores in branches and cut 383 jobs” as part of a plan to safeguard jobs (PSE ) presented this Wednesday to employee representatives.

“344 jobs in stores and 39 in support functions” are concerned, according to a press release from management specifying that the consultation of the CSE “will extend until the first quarter of 2021” and that the stores will remain open “for the Christmas period , with the exception of a few whose leases are expiring ”.

In this text, management “undertakes to do everything in its power to offer solutions favoring the repositioning of the employees concerned, through internal reclassification measures and personalized support for the construction of external professional projects”.

Nearly 500 stores in France

The brand, founded in 1978, currently has 1,500 stores in 46 countries, including 478 stores in France, and 4,200 employees worldwide, including 2,416 in France as of October 1, 2020. “Part of this network is source of significant financial losses due to the drop in profitability of certain stores, ”explains Celio.

“In the coming months, we will accelerate our transformation,” says Gaëlle de la Fosse, president of the group. The management is in fact preparing a “backup exit” plan to be presented in the first quarter of 2021.

Celio is not the only ready-to-wear brand to bear the brunt of the Covid-19 crisis, since La Halle, André, Naf Naf or Camaïeu have all lost employees. Recently, the American giant Gap announced plans to close all of its stores in Europe by June 2021. The previous two years had already been marked in France by the demonstrations of yellow vests and by social mobilizations against the pension reform, which affected many businesses.

The fear of a new confinement

In addition, the fashion market is “structurally in difficulty” and “has lost 17% of its value over the past ten years”, according to Yohann Petiot, director general of the Alliance du commerce, which brings together the Union du Grand town center trade, the Federation of clothing brands and that of footwear brands.

This Alliance warned, in a press release Tuesday evening, that a re-containment “would have dramatic consequences for trade with the approach of the end of year holiday period”, an “essential” period which “represents more than 20% of the annual turnover of fashion brands, ”notes Yohann Petiot.


Source link by https://www.leparisien.fr/economie/habillement-celio-compte-fermer-une-centaine-de-magasins-et-supprimer-plus-de-380-emplois-28-10-2020-8405378.php

*The article has been translated based on the content of Source link by https://www.leparisien.fr/economie/habillement-celio-compte-fermer-une-centaine-de-magasins-et-supprimer-plus-de-380-emplois-28-10-2020-8405378.php
. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!

These were the details of the news Clothing: Celio plans to close a hundred stores and cut more... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at en24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Johnson hails party’s crushing win in UK opposition stronghold
NEXT East Jerusalem: 15 Palestinians arrested in land right clashes